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UN shipping agency spokesperson says they are awaiting further details on Trump's comment that the US will charge 20% for cargo through Hormuz; says the UN shipping agency is against charging fees for any strait used for international navigation

StockNow breaking-news AI analysis

The IMO opposes Trump's 20% fee proposal for Hormuz cargo, citing international law (UNCLOS) prohibiting transit tolls. Markets reacted with rising oil prices amid geopolitical uncertainty.

News detail

No legal basis for introducing mandatory tolls for transit through a strait.

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